Gold price falls Rs 340 to Rs 60,110, silver unchanged at Rs 74,100
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The price of 24-carat gold declined Rs 340 in early trade on Tuesday, with ten grams of the precious metal selling for Rs 60,110, according the GoodReturns website. The price of silver remained unchanged, with one kilogram of the precious metal selling at Rs 74,100.
The price of 22-carat gold fell Rs 310, with the yellow metal selling at Rs 55,100.
In Mumbai, the price of ten grams of 24-carat gold is in line with prices in Kolkata and Hyderabad, at Rs 60,110.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold differs, standing at Rs 60,260, Rs 60,110, and Rs 60,330, respectively.
The price of ten grams of 22-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 55,100.
In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold is selling at Rs 55,250, Rs 55,100, and Rs 55,300, respectively.
US gold prices were subdued on Tuesday as Treasury yields extended gains, ahead of economic data and Federal Reserve Chair Jerome Powell's speech this week that could steer upcoming interest rate decisions.
Spot gold dropped 0.2 per cent to $1,916.20 per ounce by 0121 GMT, and US gold futures fell 0.2 per cent to $1,929.90.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.80 per cent to 855.45 tonnes on Monday.
Industrial gold production in Mali, one of Africa's top producers of the precious metal, is expected to reach or even exceed its 67.7 tonnes forecast for 2023, according to a mines ministry official.
Spot silver eased 0.2 per cent to $22.55 per ounce, platinum was steady at $890.81 and palladium rose 0.1 per cent to $1,144.96.
In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 74,100.
In Chennai, one kilogram of silver is trading at Rs 77,500.
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